Chiquita Merges With Irish Company To Form New Global Produce Firm

Chiquita Brands, a global marketer of bananas, packaged salads and snacks, announced it will merge with Ireland’s Fyffes plc in an all stock transaction to create a new $4.8 billion fresh produce company. Fyffes markets and distributes tropical produce, including bananas, under a variety of brands including Fyffes and Sol. To be known as ChiquitaFyffes, the company will operate in more than 70 countries with a combined workforce of about 32,000 people. Under the agreement, Chiquita shareholders will own 50.7 percent of the new company, and Fyffes shareholders will own 49.3 percent.